Copa (NYSE:CPA) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a report published on Monday morning.

CPA has been the topic of several other reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. TD Cowen cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Evercore ISI lowered their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Copa currently has an average rating of “Buy” and an average target price of $148.83.

Copa Price Performance

NYSE:CPA opened at $94.30 on Monday. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.24, a P/E/G ratio of 0.73 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. The stock has a fifty day moving average of $97.07 and a 200 day moving average of $94.88. Copa has a 52-week low of $80.01 and a 52-week high of $114.00.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date of this dividend is Monday, December 2nd. Copa’s dividend payout ratio (DPR) is presently 42.59%.

Hedge Funds Weigh In On Copa

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Copa by 72.9% in the first quarter. Russell Investments Group Ltd. now owns 11,141 shares of the transportation company’s stock worth $1,160,000 after purchasing an additional 4,696 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Copa by 219.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,566 shares of the transportation company’s stock valued at $5,164,000 after acquiring an additional 34,027 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Copa during the first quarter valued at about $1,005,000. Virtu Financial LLC purchased a new stake in shares of Copa during the first quarter worth about $557,000. Finally, First Hawaiian Bank grew its stake in shares of Copa by 8.8% in the second quarter. First Hawaiian Bank now owns 5,440 shares of the transportation company’s stock worth $518,000 after purchasing an additional 440 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.